23 October 2017
visit www.response.ncr.com

ASX to move to integrated trading system; Kofex extends OM deal

22 April 2004  |  4167 views  |  0 ASX to move to integrated trading system; Kofex extends OM deal

The Australian Stock Exchange (ASX) is migrating all products traded on its Stock Exchange Automated Trading System (Seat) to an integrated platform based on OM Technology's Click XT software.

ASX has been using OM's Click system for derivatives trading since 1997. The exchange has contracted with OM Technology for the developement and supply of a customised version of the system to handle trading of all ASX's listed securities - spanning equities, interest rate securities, warrants, options, index options, index futures and commodity futures.

The total cost of the project is estimated to be $11.2 million, of which $9.6 million will be capitalised. The total cost will be spread across three financial years.

The new platform will replace the Seats system, which the Exchange has been using for trading equities, interest rate securities and warrants since 1987.

Richard Humphry, MD and CEO, ASX, says a study conducted by the Exchange last year found that "trading all ASX products on a single, integrated platform offered ASX and its customers compelling financial, functional and strategic benefits".

ASX says the single trading infrastructure will allow customers to make cost savings, while offering new trading possibilities such as contingent trading across equities and derivatives.

The exchange expects migration to the integrated platform to commence in early calendar year 2006.

In a separate announcemnt, the Korea Futures Exchange has signed an extended five year agreement with OM for the support and maintenance of the Click exchange trading system and the Secur clearing system, which the Exchange has used since its inception in April 1999.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

OMHEX profits soar on merger synergies

OMHEX profits soar on merger synergies

20 April 2004  |  3787 views  |  0 comments
Singapore Exchange signs with OM for integrated trading engine

Singapore Exchange signs with OM for integrated trading engine

12 December 2003  |  7895 views  |  0 comments
ASX to form Australian Clearing House CCP

ASX to form Australian Clearing House CCP

22 November 2002  |  3577 views  |  0 comments
Software bugs force ASX market suspension

Software bugs force ASX market suspension

07 November 2002  |  3138 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.comvisit www.atos.net

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
15584 views comments | 17 tweets | 30 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13658 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10052 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
9957 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
8952 views comments | 9 tweets | 18 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job